Anonymous

01 Dec 2022

∙

Should I fill up my emergency fund to SingLife Insurance Saving Plan & CIMB Fastsaver first before deciding whether to put in SSB?

CIMB FastSaver Account Singlife Account

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DunSayBojioHor

02 Jan 2023

Depends on how liquid you need the funds to be

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MS

28 Dec 2022

It really depends on your financial goal and investment horizon

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Alex

14 Dec 2022

Can consider GXS saving account which give 3.48% interest p.a. without the need to fufill any requirements.

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Calvin

09 Dec 2022

Emergency fund is money that you can tap on whenever you need it. Insurance savings is an insurance tool, not for emergency. SSB would be better but need earliest next month to withdraw.

so put your emergency funds in high interest rate bank account. There are many now.

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Lim

09 Dec 2022

If you're ok with waiting 1-2 business days, MoneyOwl WiseSaver currently has an interest rate of ~3...

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Related Posts

Best endowment plans for 21yo? Have set aside insurances and emergency funds. Looking to put $15k into an endowment that lasts around 3years max?

How should an NSF like me grow my wealth? There are so many options such as investing in ETFs, putting my money in Robo-advisors or insurance savings plan (such as the Singlife 2.5% p.a.).?

Singlife insurance savings plan states it's an insurance savings plan that credits interest, offers flexibility to make top-ups and withdrawals with no lock-in and charges. Sounds too good to be true?

For saving plans, do you prefer high flexibility with lower returns (Eg. saving accts, SSB, flexible insurance savings plans) or no flexibility with higher returns (Eg. fixed deposits, endowments) ?

Is it advisable to save emergency fund and invest in ETF via Syfe at the same time, or is it advisable to get my emergency funds ready first before I step into investing?